The Prudential Insurance Company of America

Shawn P Hilario

Michael J Roscoe

Stephen A Roche

Edwin Clifford Barron, Jr

Paul M Fischer

A computer system for processing data related to last survivor life insurance policies includes a processor configured to process data related to a last survivor policy on two or more insureds, associated single life policies on the two or more insureds, and one or more ancillary benefits. The processing of data may include generation of illustrations, processing of applications, underwriting of applications, and generation of policy documents, employing common data for the last survivor policy and the one or more associated single life policies. The ancillary benefits may include payments based on a medical condition of an insured, payments based on longevity of an insured, and payments based on disability of an insured.

System and method for processing data related to last survivor life insurance policies

A computer system for administering a life insurance policy is configured to, responsive to receipt of certification that the insured has either loss of ability to perform two activities of daily living or cognitive impairment, provide instructions to pay an owner of the policy, in periodic payments, an accelerated benefit, the accelerated benefit being in an amount less than the death benefit, a first of the periodic payments being for a time period commencing on a date of receipt of the certification, and continuing until the insured no longer has the loss of ability to perform two activities of daily living or cognitive impairment. The system is further configured to, responsive to each of the periodic payments, determine a reduction of the amount of the death benefit by an amount of each of the periodic payments.

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West Hartford, CT, United States of America

Shawn P Hilario